Dan Richards

Careful timing: Take it slow and steady with prospects

(July 2004) How many meetings should you plan to have with a prospect before asking them to do business with you? Traditional sales training taught advisors to ask for the sale from the very first call, using a litany of trial closes and sales techniques. Today, asking for the sale prematurely is worse than waiting […]

By Dan Richards |July 29, 2004

3 min read

Planning and Advice

Referral wrap-up: How to thank your clients for recommending you

(June 2004) As I discussed in the past three columns, a client’s personality makeup can sometimes make it impossible to induce referrals no matter how good a job you do. Getting that initial referral takes a lot of hard work on the advisor’s part, and for most clients, overcoming the natural apprehension about introducing friends […]

By Dan Richards |June 18, 2004

3 min read

Planning and Advice

Acceptance speech: How to communicate with clients and prospects when accepting referrals

(May 2004) There are two constituencies when accepting referrals: the existing client who provided the referral and the prospective client. When dealing with clients giving referrals, you have three objectives to consider: genuinely thanking them for their confidence, reaffirming their decision to work with you and maximizing the likelihood of future referrals. Contacting existing clients […]

By Dan Richards |May 13, 2004

3 min read

Planning and Advice

Special Treatment: How to stand out from the crowd when it comes to client appreciation

(February 2004) How do you communicate that you are truly grateful for your clients’ business? Don’t assume clients understand they are valued. Unless you’ve communicated your appreciation, they may feel taken for granted. Part of the problem is that many firms go through the motions of saying they value their clients’ business when their behaviour […]

By Dan Richards |February 19, 2004

3 min read

Planning and Advice

Marketing frontlines:

(July 2003) The market downturn of the last three years has resulted in many casualties. Among them has been an erosion of the confidence that many clients have in their financial advisors. And it’s not just advisors’ knowledge that clients have begun to doubt — there are two other attributes critical to a good relationship […]

By Dan Richards |July 14, 2003

3 min read

Planning and Advice

Marketing frontlines: Community activity can help you establish credibility with prospects

(March 2003) In last month’s column, I talked about the need for most advisors to go beyond client referrals to grow their business. Going forward, any prospecting activity will have to start with a solid foundation of credibility among the investors with whom you’re hoping to do business. Last month’s column focused on targeting one […]

By Dan Richards |March 20, 2003

3 min read